Jose Mourinho is reportedly behind a £35 million bid from the Spanish giants, with Madrid also considering offering a player or two to sweeten the deal.
The Special One will likely face a battle with Madrid's great rivals Barcelona - who have been tracking Fabregas for months.
The 23-year-old Fabregas almost made the move to Barcelona at the start of this season, before Arsene Wenger changed his mind.
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Meanwhile, West Ham are keen on Michael Owen and putting together an offer for the January window. (Mirror.co.uk)
Avram Grant believes the Manchester United striker can help save his team from relegation.
Owen has been no more than a peripheral figure at United this season and may welcome the chance for first-team football.
Source: DSG
